Calidi Biotherapeutics(CLDI) - 2024 Q3 - Quarterly Results

Financial Performance - Calidi Biotherapeutics reported a net loss of $5.1 million, or $0.65 per share, for Q3 2024, compared to a net loss of $2.0 million, or $1.41 per share, for the same period in 2023[7]. - Research and development expenses decreased to $2.2 million in Q3 2024 from $3.3 million in Q3 2023[7]. - General and administrative expenses were $3.1 million for Q3 2024, down from $4.0 million in Q3 2023[8]. Funding and Financial Position - The company raised $2 million through a registered direct offering and concurrent private placement in October 2024[6]. - As of September 30, 2024, Calidi had approximately $1.9 million in cash and $0.2 million in restricted cash, consistent with December 31, 2023[8]. - Total current liabilities increased to $11.6 million as of September 30, 2024, compared to $10.2 million at the end of 2023[11]. - Total assets decreased to $6.7 million as of September 30, 2024, down from $10.0 million at the end of 2023[11]. - The accumulated deficit increased to $117.6 million as of September 30, 2024, compared to $99.6 million at the end of 2023[11]. Clinical Developments - The FDA cleared Northwestern University's IND application for Calidi's NeuroNova (CLD-101) clinical trial in high-grade glioma, expected to start in early 2025[4]. - Data on RTNova (CLD-400) was presented at multiple international conferences, highlighting its potential to target multiple tumor sites[5].